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Flirting With 50-Day EMA Support


Weak Data Over 50Bp ECB Hike


Clears The 20-Day EMA

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Fails To Build Above 0.88.......>

EURO-STERLING TECHS: Fails To Build Above 0.88
Despite the earlier release of soft UK CPI data, EURGBP failed to build on gains
above GBP0.8800. Bulls continue to target the 200-dma & Oct 14 high at 0.8836,
this level also coincides with neckline support and is seen a key area of
resistance. Above here opens the 50% retracement level & 100-dma at 0.8860/78.
Bears need a close below 0.8750, before challenging the Oct 10 low at 0.8723.

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